June 2007 -- In late January 2007, Steel Dynamics Inc. announced net sales of $3.2 billion for the year 2006, a 48% increase over 2005's $2.2 billion. Net income for 2006 was $397 million, or $3.77 per diluted share, compared with 2005 net income of $222 million (or $2.17 per diluted share) for an increase in net income of 79%.
For the fourth quarter of 2006 net income was $105 million, or $1.03 per diluted share, compared with $65 million or $0.65 per diluted share in the fourth quarter of 2005. Net sales were $840 million for the quarter, an increase of 47% over the fourth quarter of 2005.
All three of the company's Indiana steel mills established annual records for sales and profits in 2006, with each mill also achieving new production and shipping milestones.
"2006 was an excellent year for Steel Dynamics," said Keith Busse, president and CEO of the Fort Wayne, Ind.-based manufacturer. "During 2006 we were able to take advantage of numerous marketplace opportunities as a result of the production capabilities we've put into place over the past several years."
